1. True. Parameters are data from the total population, while statistics are data from samples.

2. True. A sampling distribution is the probability distribution, under repeated sampling of the population, of a given statistic (a numerical quantity calculated from the data values in a sample). The formula for the sampling distribution depends on the distribution of the population, the statistic being considered, and the sample size used. A more precise formulation would speak of the distribution of the statistic as that for all possible samples of a given size, not just "under repeated sampling". (From <(Broken Link Removed)

A survey of 1200 credit card found that the average late fee is $24.3?

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